Business & Finance News
As the government issues a second round of aid for small business owners, some U.S. senators, community banking groups and minority-owned banks said they are worried businesses owned by people of color may miss out on receiving much-needed loans.
U.S. health insurer Anthem Inc beat quarterly estimates for revenue on Wednesday, helped by the recent launch of its pharmacy benefits unit and higher premiums.
U.S. stock index futures rose on Wednesday after Google-parent Alphabet reported upbeat quarterly results, while investors braced for data that could show a sharp contraction in the domestic economy.
General Electric Co reported a 7.6% drop in first-quarter revenue, hurt by weakness in its aviation and power units due to the coronavirus pandemic, and fell short of its own free cash flow targets for the quarter.
Bentley will make wearing face masks compulsory at its British car factory and has introduced a two-metre distance between workers which will result in output halving over the first couple of weeks of production, its boss told Reuters.
The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.
The COVID-19 pandemic is forcing the world’s biggest advertising company WPP to accelerate its strategy of bringing its multiple agencies together to produce work more quickly for clients battling to cut costs.
Shares in Wirecard slumped again on Wednesday as a prominent short seller demanded the sacking of CEO Markus Braun after a special audit of the German payments company was unable to verify its financial statements.
Britain’s John Lewis Partnership has appointed James Bailey, a former director of Sainsbury’s , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.
Top managers at Nivea-maker Beiersdorf are waiving 20% of their fixed compensation between April and December, Chief Executive Stefan De Loecker said on Wednesday, adding that the level of management below them was also foregoing 5% of its pay.
Britain’s John Lewis Partnership [JLPLC.UL] has appointed James Bailey, a former director of Sainsbury’s , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.
British clothing retailer Next has shored up its finances to help get it through the coronavirus crisis by selling property, suspending share buybacks and dividends and cutting costs after first-quarter sales fell 41%.
AstraZeneca topped analysts’ estimates for quarterly profit and reiterated its targets for the year on Wednesday, as the British drugmaker benefited from higher demand for some of its medicines during the coronavirus pandemic.
German auto supplier and technology company Robert Bosch [ROBG.UL] on Wednesday said it expected automotive production to fall by at least 20% this year, as the coronavirus pandemic slams the brakes on factory production lines and saps demand.
World shares eked out slim gains on Wednesday, with optimism over economies easing coronavirus lockdowns and oil prices clawing back ground leavened by caution over corporate earnings.
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